GBPUSD--Tuesday, February 10, 2009
Although cable pushed through the 2.618 delta target, the energy of the move up seemed to dissipate there, and it spent most of yesterday gravitating around that level. A sell-off overnight and this morning has probed through the 1.48 level, but--as with the move up--no follow through. There is a minor fibonacci level there which seems to be holding.